Accelerated bridge construction (ABC) has attracted much attention in China as a new and efficient construction method. However, the seismic performance of the connections between precast piers and other structures limits the application of ABC in medium and high seismic zones. In this paper, a quasi-static test was conducted to investigate the seismic performance differences between a cap–column socket connection (PSC) specimen, which reinforced an embedded RC column-to-precast cap beam with a socket connection, and a cast-in-place (CIP) cap–column specimen. A fiber-based finite element model that considers bond slippage between the connection reinforcement and wet joint concrete is proposed. The numerical simulation results compared with the experimental results show an error of about 12% in peak bearing capacity and about 2% in initial stiffness. The experimental and numerical results show that the PSC specimen demonstrates comparable seismic performance to the CIP specimen. Experimental results verified that the finite element model in this paper is adequate to predict the seismic responses of a precast column with a reinforcement-embedded socket connection. A reinforcement-embedded RC column-to-precast cap beam with socket connection can be an effective solution for construction in medium and high seismic areas.